Own It: Building Black Wealth announced Thursday that five $19,000 down payment grants were awarded to families in its recent grant cycle.
In Dane County, 13% of Black families are homeowners. For white families, that number is 64%. This gap in Greater Madison exceeds racial homeownership disparities on a nationwide scale.
Madison’s Own It program is working to increase Black and brown homeownership and wealth.
“Real estate really is the root of segregation,” said Sara Alvarado, a local real estate entrepreneur and co-founder of Own It: Building Black Wealth. “So, ‘Why don’t we participate a little bit more loudly?’ is the question.”
Since 2021, Own It has worked with area real estate professionals, financial institutions and partner organizations serving primarily people of color to provide education and down payment assistance that can give first-time homebuyers a leg up in a challenging market, and help set them on a path toward financial well-being.
